Investors may be deterred by shortcomings fighting corruption – EU
Governance shortcomings in the anticorruption framework may adversely affect the business climate and weigh negatively on investment, the European Commission said on Wednesday.
“The effectiveness of Malta’s efforts to fight corruption needs to be further improved, especially with regards to the investigation and prosecution of corruption,” it warned in the country specific recommendations for the 2018 European Semester.
Apart from updating from various previous reports, two specific recommendations were made:
– Strengthen the overall governance framework by enhancing the national supervision of internationally oriented financial businesses licensed in Malta, by ensuring the effective enforcement of the Anti-Money Laundering framework and by continuing to step up the fight against corruption.
– Ensure the sustainability of the health care and the pension systems, including by increasing the statutory retirement age and by restricting early retirement.
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